Is Ethereum Classic Token Ready For Next Parabolic Move?

  • Ethereum classic token seems to be getting ready for the next lap of bullish momentum but needs more supportive volume activity. 
  • The crypto asset is currently moving higher and placed above its vital moving averages of 20, 50, 100, and 200-day lines. 
  • The pair of ETC/BTC is trading at 0.0008966 BTC with an intraday gain of +6.90%, and the ratio of ETC/ETH is CMP at 0.01271 ETH with a 24-hour change of +8.68%  

Ethereum classic token at the monthly chart is trading sideways, since past few months with lower volume activity. The crypto asset is trying to move higher with a slight increment in volume activity in the current situation.

Volume activity at the monthly chart increases and jumps above its average volume line, which needs to improve strength for the next lap of a bullish move. We can expect a strong rally in upcoming trading sessions if the coin manages to sustain above its all vital DMA lines. We can expect levels of $75 to $90 in forthcoming trading sessions if the coin manages to maintain above all significant support lines. Support on the lower side is $50.00 and $43.70, whereas resistance on the higher side is $77.10 and $85.00.

Ethereum classic token has given breakout from the sideways consolidation

Ethereum classic token at the weekly chart has given breakout from the sideways consolidation at the 4-hour time frame. Meanwhile, the technical parameters are reached under the overbought zone, and slight correction is expected. Volume activity is increasing at the 4-hour time frame and needs to sustain above the average volume line. ETC price is trading at $60.35 with an intraday increment of +10.16%, and the volume to market cap ratio is 10.10%.  

Relative Strength Index (CAUTION): Ethereum classic token RSI is CMP in the overbought zone the 4-hour time frame. In contrast, the coin suggests caution with longs in the short term time frame, RSI at 71. 

Moving Average Convergence Divergence (CAUTION): The daily chart projects a caution at the 4-hour time frame. At the same time, the buyer’s signal line (green) overpowers the seller’s line (red) with no sign of weakness.     


Support levels: $50.00 and $43.70 

Resistance levels: $77.10 and $85.00.